Background*

Dr. Susan M. Phillips is a Professor Emeritus at The George Washington University School of Business. Dr. Phillips retired as the Dean of Leonard N. Stern School of Business at The George Washington University School of Business in 2010, and retired as professor of finance in 2011, positions she held since 1998. Dr. Phillips served as Vice President for Finance and University Services and Professor of Finance in The College of Business Administration at the University ... of Iowa from 1987 to 1991. Dr. Phillips serves as the Chairman and Commissioner of the Commodity Futures Trading Commission. She has been an Independent Director of The Kroger Co. since 2003 and CBOE Holdings, Inc. since 2000. Dr. Phillips serves as a Director of State Farm Bank, F.S.B. She serves as a Trustee or Director of 19 BlackRock funds. She serves as a Director of State Farm Mutual Automobile Insurance Company, State Farm Life Insurance Company, Inc., State Farm Foundation, National Futures Association, AACSB-International, and the Cantor Exchange. She serves as a Trustee of State Street Research Mutual Funds and the Financial Accounting Foundation Inc. She served as a Trustee of State Street Research Master Investment Trust since 1998 and State Street Research & Management Company. She served as a commissioner of the Commodities Futures Trading commission (CFTC) from 1981 to 1983 and served as chairman of the CFTC from 1983 to 1987. Dr. Phillips served as a member of the Board of Governors of the Federal Reserve System from December 1991 though June 1998. She serves as a Member of Executive Committee at Cboe, Inc. Dr. Phillips served as a Brookings, then SEC, Economic Policy Fellow from 1976 to 1978. She has won several awards for her research, including the Chicago Board Options Exchange Pomerance Prize for outstanding research in options in 1980, and has authored dozens of scholarly publications, including The SEC and the Public Interest, a book co-written with J. Richard Zecher. She contributes regularly to The International Economy. Other honors and awards include Phi Beta Kappa, Agnes Scott College; Beta Gamma Sigma, Louisiana State University; Outstanding Alumna Award, Agnes Scott College; Hall of Distinction, LSU Alumni Association and separately LSU College of Business Administration; and Futures Hall of Fame, Futures Industry Association. Dr. Phillips earned a B.A. in mathematics from Agnes Scott College in 1967, a M.S. in finance and insurance from Louisiana State University (LSU) in 1971, and a Ph.D. in finance and economics from LSU in 1973.

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